STRENGTH IN NUMBERS BLOG

The Knowledge Development Box is a tax incentive to encourage innovation in Ireland. Companies who qualify can avail of an effective 6.25 percent corporation tax rate (instead 12.5 percent) on profits arising from certain intellectual property assets.

The duties of a secretary are duties delegated to the position by the directors. There is no definitive term covering what this will entail. Directors must ensure person is capable of doing the job. For PLCs though, there is reference to categories of qualification as secretary:

The principal fiduciary responsibilities of a director are set out in Part 5 of the Companies Act 2014.

There is a requirement on a director to act in good faith, to act honestly and responsibly and to act according to the company’s constitution. There is a requirement for the directors to have regard to the interests of the company’s employees as well as to the interest of the members. Under section 231 of the Act, there is a duty on directors to disclose any interest they have in contracts made by the company. The duties set out in the Act are not exhaustive and will still require directors to consider obtaining legal advice concerning compliance with their duties.

Running a successful blog requires good business skills. Design, content and promotion are important but unless you understand business basics, you’re likely to run into problems that will cost you time and money.

Starting a business in Ireland may be an option for some UK entrepreneurs post-Brexit. Deciding to relocate your business is an important strategic decision and there are many factors to consider depending on your specific circumstances. These include family requirements such as accommodation, schools and so on. That said, there are many advantages to locating in Ireland.

Recently we are seeing more examples of PAYE taxpayers with various types of non-PAYE income. Irrespective of the source, if you earn income outside of the PAYE system, you must declare it to Revenue and pay the appropriate taxes.